Atlas Air Worldwide (NASDAQ:AAWW) was upgraded by Zacks Investment Research from a “sell” rating to a “strong-buy” rating in a research report issued to clients and investors on Wednesday, Zacks.com reports. The brokerage presently has a $32.00 price objective on the transportation company’s stock. Zacks Investment Research‘s price objective would suggest a potential upside of 14.78% from the stock’s previous close.
According to Zacks, “Atlas Air Worldwide Holdings, Inc. is the parent company of Atlas Air and Polar Air Cargo, which together operate the world’s largest fleet of Boeing freighter aircraft. AAWW is principally involved in the airport-to-airport air transportation of heavy freight cargo through its two operating subsidiary airlines, Atlas Air, Inc. and Polar Air Cargo, IncAAWW, through its principal subsidiaries Atlas and Polar, offers scheduled air cargo service, cargo charters, military charters, and ACMI aircraft leasing in which customers receive a dedicated aircraft, crew, maintenance and insurance on a long-term lease basis. “
A number of other brokerages have also recently issued reports on AAWW. Cowen decreased their target price on Atlas Air Worldwide from $50.00 to $39.00 and set an “outperform” rating for the company in a research report on Friday, October 25th. Stifel Nicolaus set a $38.00 target price on Atlas Air Worldwide and gave the stock a “buy” rating in a research report on Friday, November 1st. Susquehanna Bancshares cut Atlas Air Worldwide from a “positive” rating to a “neutral” rating and decreased their target price for the stock from $43.00 to $30.00 in a research report on Tuesday, September 17th. ValuEngine raised Atlas Air Worldwide from a “sell” rating to a “hold” rating in a research report on Friday, January 3rd. Finally, Wolfe Research raised Atlas Air Worldwide from an “underperform” rating to a “peer perform” rating in a research report on Friday, October 4th. One analyst has rated the stock with a sell rating, two have given a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. Atlas Air Worldwide currently has a consensus rating of “Buy” and a consensus target price of $40.80.
Shares of Atlas Air Worldwide stock opened at $27.88 on Wednesday. The stock has a market capitalization of $721.28 million, a P/E ratio of 3.83 and a beta of 2.20. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 1.12. The stock has a 50 day moving average price of $26.96 and a two-hundred day moving average price of $28.85. Atlas Air Worldwide has a 12-month low of $20.61 and a 12-month high of $60.72.
Atlas Air Worldwide (NASDAQ:AAWW) last announced its earnings results on Wednesday, October 30th. The transportation company reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.60). The company had revenue of $648.54 million for the quarter, compared to the consensus estimate of $699.08 million. Atlas Air Worldwide had a return on equity of 6.10% and a net margin of 11.90%. The firm’s revenue for the quarter was down 1.2% compared to the same quarter last year. During the same period in the previous year, the company earned $1.54 EPS. Sell-side analysts anticipate that Atlas Air Worldwide will post 4.66 earnings per share for the current year.
In other news, CFO Spencer Schwartz sold 6,500 shares of the stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $21.84, for a total value of $141,960.00. Following the completion of the sale, the chief financial officer now directly owns 28,741 shares of the company’s stock, valued at $627,703.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.20% of the stock is owned by corporate insiders.
Several institutional investors and hedge funds have recently bought and sold shares of AAWW. First Trust Advisors LP boosted its position in shares of Atlas Air Worldwide by 20.0% in the first quarter. First Trust Advisors LP now owns 50,577 shares of the transportation company’s stock valued at $2,557,000 after acquiring an additional 8,427 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Atlas Air Worldwide by 1.1% in the second quarter. Charles Schwab Investment Management Inc. now owns 144,201 shares of the transportation company’s stock valued at $6,438,000 after acquiring an additional 1,638 shares during the period. Northern Trust Corp boosted its position in shares of Atlas Air Worldwide by 2.7% in the second quarter. Northern Trust Corp now owns 320,088 shares of the transportation company’s stock valued at $14,288,000 after acquiring an additional 8,396 shares during the period. Parametric Portfolio Associates LLC boosted its position in shares of Atlas Air Worldwide by 8.0% in the second quarter. Parametric Portfolio Associates LLC now owns 417,327 shares of the transportation company’s stock valued at $18,629,000 after acquiring an additional 30,920 shares during the period. Finally, US Bancorp DE boosted its position in shares of Atlas Air Worldwide by 14.5% in the second quarter. US Bancorp DE now owns 24,305 shares of the transportation company’s stock valued at $1,085,000 after acquiring an additional 3,079 shares during the period. 97.70% of the stock is owned by institutional investors.
About Atlas Air Worldwide
Atlas Air Worldwide Holdings, Inc, through its subsidiaries, provides outsourced aircraft and aviation operating services. It operates through three segments: ACMI, Charter, and Dry Leasing. The company offers outsourced cargo and passenger aircraft operating solutions, including contractual service arrangements, such as the provision of aircraft; and value-added services, including crew, maintenance, and insurance to aircraft and other customers.
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